Governor of the Central Bank of the Republic of Kosovo meets with the British Ambassador to discuss developments in the financial system and strengthening cooperation

The Governor of the Central Bank of the Republic of Kosovo (CBK), Mr. Ahmet Ismaili, received in a meeting the Ambassador of the United Kingdom to Kosovo, H.E. Mr. Jonathan Hargreaves. The meeting took place within the framework of ongoing institutional cooperation, focusing on the latest developments in Kosovo’s financial system, reforms in the legal and regulatory framework, and the preservation of the integrity and resilience of the country’s financial system.

Governor Ismaili highly appreciated the support of the United Kingdom through development agencies such as DFID, for the establishment, consolidation, and reform of Kosovo’s public institutions, including significant contributions in public finance, the civil service, the fight against corruption, and the prevention of money laundering and terrorist financing. The Governor also informed the Ambassador about current cooperation and ongoing efforts to further expand collaboration with the Bank of England and the UK’s Financial Conduct Authority, the institution responsible for supervision of markets and consumer protection.

Ambassador Hargreaves was briefed on the latest developments in Kosovo’s financial sector, where it was emphasized that the financial system is secure, stable, and liquid, continuing to play a key role in supporting the country’s economy and access to finance.

Furthermore, the Governor informed the Ambassador about the progress made in advancing the legal and regulatory framework in alignment with the European Union regulatory framework, including preparations for Kosovo’s membership in the Single Euro Payments Area (SEPA) where he also mentioned the current challenge posed by the non-publication of financial sector laws due to constitutional review. This process that has impacted the dynamics of the pre-application assessment of the CBK’s in SEPA by the relevant EU institutions.

In the meeting there were presented also the internal institutional reforms undertaken by the CBK, aimed at enhancing organizational capacity and improving internal governance, in line with recommendations from international partner institutions. On this occasion, the Governor expressed his gratitude to international partners for their continued support, which directly contributes to the development of human and infrastructural capacities.

As part of efforts to combat counterfeit currency and safeguard the integrity of the euro, the Governor presented developments in the review of the legal framework for combating counterfeiting, a process supported by the EU Office in Pristina and the Croatian National Bank.

During the meeting, current challenges and needs were also discussed, and in this context, the parties agreed to explore opportunities for cooperation and support from UK authorities, based on the results achieved so far and proven expertise, with the aim of advancing key processes for the financial sector, the domestic economy, and international financial integration.